Bloomin' Brands
| Company type | Public |
|---|---|
| Industry | Restaurant holdings |
| Predecessor | Multi-Venture Partners, Inc. |
| Founded | 1988 in Tampa, Florida, U.S. |
| Founder | Tim Gannon, Bob Basham, Trudy Cooper, Chris Sullivan |
| Headquarters | Tampa , United States |
Area served | Worldwide |
Key people | Michael L. Spanos (CEO, 2024–present), David Deno (CEO, 2019–2024) |
| Products | Casual dining restaurant chains including Outback Steakhouse, Carrabba's Italian Grill, Fleming's Prime Steakhouse & Wine Bar, Bonefish Grill |
| Website | www |
Bloomin' Brands, Inc. is a corporation specializing in restaurant holdings, managing multiple American casual dining chains. Established in 1988 in Tampa, Florida—where its main office is still located—the company has expanded its operations worldwide.
History
Originally named Multi-Venture Partners, Inc., the company was founded by Tim Gannon, Bob Basham, Trudy Cooper, and Chris Sullivan. That same year, it launched its inaugural Outback Steakhouse in Tampa. The firm went public in 1991 under the name Outback Steakhouse, Inc., operating 49 restaurants at the time. The introduction of Carrabba's Italian Grill in 1993 coincided with the commencement of its international growth, including Outback's entry into the Canadian market. By this period, annual revenue had exceeded $1 billion. Additional brands such as Roy's Restaurant, Fleming's Prime Steakhouse & Wine Bar, and Lee Roy Selmon's were introduced in 1998; Cheeseburger in Paradise followed later in 2002.
In 2006, OSI Restaurant Partners was acquired for approximately $3 billion by a consortium comprising Bain Capital, Catterton Partners, and original founders Sullivan, Basham, and Gannon operating as Kangaroo Holdings. Leadership transitions saw David Deno appointed CEO in 2019, with Michael L. Spanos taking over the role in 2024.
Prior to adopting the OSI Restaurant Partners name, the company owned various brands including Paul Lee's Chinese Kitchen, Cheeseburger in Paradise, Lee Roy Selmon's, Bonefish Grill, Roy's, Carrabba's, Fleming's, and Zazarac.
The enterprise exited from Cheeseburger in Paradise and Lee Roy Selmon's concepts and discontinued Blue Coral Seafood & Spirits by 2009 due to limited growth success.
After executing a stock buyback plan in June 2007, OSI became a privately held company. It filed for an initial public offering in April 2012 aiming to raise up to $300 million and subsequently rebranded as Bloomin' Brands on August 7 of that year. The company commenced trading on NASDAQ under the symbol "BLMN."
In August 2023, the New York-based hedge fund Starboard Value took a 5% ownership position in Bloomin' Brands.
Restaurant chains
As of 2021, Bloomin' Brands owns and operates several prominent restaurant chains including:
Political contributions
Bloomin' Brands supports a Political Action Committee (PAC) that primarily backs conservative and Republican candidates, particularly those serving on Congressional committees pertinent to the restaurant industry. During the 2017-18 election cycle, this PAC raised $334,000 and expended $301,000 on contributions directed toward both Republican and Democratic candidates as well as industry-related PACs such as the National Restaurant Association PAC.